Barclays Has Lowered Expectations for TIM (NYSE:TIMB) Stock Price

TIM (NYSE:TIMB) had its target price trimmed by Barclays from $18.00 to $17.50 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Separately, Scotiabank cut their target price on TIM from $24.80 to $23.20 and set a “sector outperform” rating for the company in a research note on Tuesday, November 5th.

TIM Stock Down 0.5 %

TIMB opened at $14.17 on Tuesday. The business has a 50 day moving average price of $15.63 and a two-hundred day moving average price of $15.63. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.52. TIM has a 52 week low of $13.74 and a 52 week high of $19.14.

TIM (NYSE:TIMB) last issued its earnings results on Tuesday, November 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). The business had revenue of $1.16 billion for the quarter. TIM had a return on equity of 11.73% and a net margin of 12.71%. On average, equities research analysts predict that TIM will post 1.27 EPS for the current fiscal year.

TIM Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th were paid a dividend of $0.088 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Monday, September 30th. TIM’s dividend payout ratio (DPR) is 26.98%.

Institutional Investors Weigh In On TIM

A number of institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of TIM in the 3rd quarter worth approximately $1,089,000. Jane Street Group LLC acquired a new stake in shares of TIM in the 3rd quarter worth approximately $215,000. State Street Corp grew its holdings in shares of TIM by 16.7% in the 3rd quarter. State Street Corp now owns 583,724 shares of the company’s stock worth $10,207,000 after acquiring an additional 83,468 shares during the period. Stifel Financial Corp grew its holdings in shares of TIM by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 85,050 shares of the company’s stock worth $1,465,000 after acquiring an additional 822 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of TIM by 57.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 83,543 shares of the company’s stock worth $1,439,000 after acquiring an additional 30,482 shares during the period.

TIM Company Profile

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.